February ends with strong auction results

February ends with strong auction results

by 0 comments

Buyers were out in force over the weekend, with clearance rates, sales numbers and sale prices making strong gains.

Sydney reported an 85.5 per cent clearance rate over the weekend, according to APM PriceFinder. That compared to a rate of 75.1 per cent recorded at the same time last year.

Sales numbers rose 7.3 per cent to 517, while the median price for house auctions rose 14.8 per cent to $1.2 million and the median price for unit auctions rose 12.0 per cent to $765,000.

Melbourne also saw a big jump in its clearance rate, from 71.7 per cent to 80.1 per cent.

Sales in Melbourne climbed 8.6 per cent to 819, with houses up 12.8 per cent to $880,000 and units up 2.5 per cent to $564,000.

Adelaide’s clearance rate fell from 54.9 per cent to 50.0 per cent. However, sales grew 3.6 per cent to 29 and the median house price grew 11.3 per cent to $595,000.

Brisbane’s clearance rate improved from 47.6 per cent to 55.3 per cent. Sales rose 7.7 per cent to 42, and house prices surged 41.4 per cent to $819,000.

[Related: The previous week’s results]

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent grew his database by 50% in five years

In this episode of Secrets of the Top 100 Agents, Robert Pignataro joins host Tim Neary to explain how he increased his personal database by...

View all podcasts

Does the benefit of being part of a branded group outweigh the cost?

Depends on the group
Do you have an industry update?